Younger Partners Investments (YPI) sold Shops at Prosper Trail, an 86,698-square-foot retail center 35 miles north of downtown Dallas in Prosper, Texas, to Phillips Edison & Company.

Built in 2016, Shops at Prosper Trail is 100% occupied. The center is anchored by a Kroger Marketplace.

The property benefits from limited immediate grocery competition, with the nearest major competitors ranging from five to eight miles away. An HEB grocery store is currently under construction less than five miles from the center.

“This grocery-anchored open-air shopping center has been a wonderful investment for us,” said YPI’s Micah Ashford, “We brought it to full occupancy and exceeded our investors’ expectations with the sale. We anticipate rent growth remaining strong in North Texas as we continue to grow our retail platform.” 

JLL Capital Market’s Sales and Advisory team of Adam Howells and Erin Myer represented YPI.

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